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LightPath Technologies Inc. (NASDAQ: LPTH) is a premier global provider of optics, photonics, and infrared solutions, with over 25 years of experience serving blue chip customers across the industrial, defense, telecommunications, testing and measurement, and medical industries. The company designs, manufactures, and distributes a comprehensive range of optical components such as molded glass aspheric lenses and assemblies, infrared lenses, thermal imaging assemblies, fused fiber collimators, and gradient index (GRADIUM®) lenses.
Headquartered in Orlando, Florida, LightPath operates with manufacturing and sales offices in Dallas, Texas, Latvia, and China. The company’s vertically integrated approach ensures high levels of optical integration, cost efficiency, and superior quality.
LightPath is known for its proprietary materials, including the BlackDiamond™ (BD6) chalcogenide-based glass lenses, and has been recognized with the William C. Schwartz Industry Innovation Award for pioneering infrared optics manufacturing technologies. The company’s ISO 9001:2008 certification underscores its commitment to quality and excellence.
In recent developments, LightPath launched the BDNL-4, a new infrared glass material that is a key component in the chalcogenide glass series, designed to replace Germanium in infrared optics. This material, developed in collaboration with the US Naval Research Laboratories (NRL) and the US Department of Defense (DoD), offers significant advantages, including a negative thermo-optic coefficient for athermalization and multi-spectral capabilities.
The company has expanded its defense market presence, securing a European Defense license and achieving a 30% revenue increase from defense sales. LightPath has also introduced innovative products like the uncooled HS LWIR thermal camera and the Mantis™ camera for high-temperature process monitoring, positioning itself strongly in the rapidly growing defense and industrial markets.
LightPath’s strategic shift towards providing customized lens assemblies and advanced optical solutions, as evidenced by its collaboration with Lockheed Martin on a new missile program, marks a significant evolution from its traditional role as a components manufacturer. The company’s third-quarter financial results highlighted this transformation, with substantial investments in new materials, expanded production capacities, and a growing sales backlog, despite current revenue and gross margin challenges.
For more detailed updates on LightPath Technologies Inc., visit www.lightpath.com.
LightPath Technologies (NASDAQ: LPTH) reported fiscal 2021 results, with total revenue of $38.5 million, marking a 10% increase year-over-year. For Q4, revenue fell to $8.3 million, a 9% decline. The company faced a $3.2 million net loss for the year, compared to a net income of $867,000 the previous year, largely due to increased operating costs and management changes in China. Despite challenges, total cash grew by 26% to $6.8 million and debt decreased by 17%. LightPath aims to lead in the global photonics value chain with new strategic initiatives and product developments.
LightPath Technologies (NASDAQ:LPTH) announced its participation in key virtual investor events on September 13, 2021, where management will discuss financial results for the fiscal year ending June 30, 2021. Presentations will be available at the H.C. Wainwright 23rd Annual Global Investment Conference and the Taglich Brothers 17th Annual Investment Conference. Investors can access the events online, with materials available on the Company's website. LightPath specializes in optical and infrared components for various industries, including defense and telecommunications.
LightPath Technologies (NASDAQ:LPTH) announced its fourth quarter and fiscal 2021 financial results press release, scheduled for September 9, 2021.
The conference call will take place at 5:00 PM ET. Investors can dial in or join via webcast. A replay will be available after the call.
LightPath is a globally integrated provider of optical and infrared solutions, serving various industries including medical and defense.
LightPath Technologies (NASDAQ: LPTH) announces preliminary financial results for Q4 and fiscal year ended June 30, 2021. The company expects Q4 revenues between $8.0 million and $8.3 million, down from $9.1 million in Q4 2020, while total revenues for the fiscal year are projected to be $38.2 million to $38.5 million, an increase from $35.0 million in FY 2020. Notably, cash reserves rose to $6.8 million. However, challenges in the telecommunications sector, particularly in China, may impact future performance. A full financial report is expected in early September.
LightPath Technologies (NASDAQ:LPTH) announces a collaboration with RP Optical Lab Ltd. to develop thermal imaging cameras utilizing its BD6 material for space applications. Funded by Space Florida and Israel's Innovation Authority, this project aims to enhance BD6's compliance with space radiation requirements. CEO Sam Rubin noted increasing demand for optics in satellite applications, aligning with the surge in satellite launches. The joint effort aims to accelerate the development of a broadband satellite imaging system, reflecting the growing commercial potential in space technologies.
LightPath Technologies has secured a multiyear supply agreement worth over $2.4 million, reflecting a 50% increase from the previous contract. This agreement involves the supply of glass aspheres used by a global engineering firm to produce precision measurement and motion control devices across sectors such as aerospace, automotive, and healthcare. The Company emphasizes a strong demand for its optical products, showcasing its ability to provide high-quality solutions at scale.
LightPath Technologies (NASDAQ: LPTH) has appointed Louis Leeburg as the new Chairman of the Board following the retirement of Robert Ripp effective May 11, 2021. Leeburg, who has been a director since 1996, aims to transition the company from providing optical components to offering comprehensive engineered solutions, enhancing its strategic position in the global photonics industry. CEO Sam Rubin expressed confidence in the new leadership structure, emphasizing its potential for long-term profitable growth.
LightPath Technologies (LPTH) reported a record revenue of $10.7 million for Q3 FY2021, marking a 23% increase year-over-year. The first nine months brought in $30.1 million, up 17% from the previous year. Despite revenue growth, the company faced a net loss of $223,000 in Q3 and $272,000 for the first nine months, a decline from the net income of $816,000 and $210,000 respectively in the prior year. Gross margin contracted to 36% in Q3 due to inefficiencies in new product lines, reflecting operational challenges as the company adjusts to increased production demands.
LightPath Technologies, Inc. (NASDAQ:LPTH) announced the retirement of Chairman Robert Ripp, effective May 11, 2021. Ripp has served on the Board for 22 years and played a crucial role in hiring CEO Sam Rubin, who has been leading the company through strategic changes and global expansion. Ripp's retirement aligns with new governance policies, including a formal retirement age for directors. CEO Rubin and Board member Louis Leeburg praised Ripp's leadership and commitment to shareholder value, emphasizing the company's innovative capabilities and growth trajectory.
LightPath Technologies (NASDAQ: LPTH) announced the appointment of Peter Greif as Vice President of Operations, effective April 30, 2021. Greif, with over 17 years of experience at Jabil Inc., will enhance operational performance and profitability. His role involves managing high-volume manufacturing, aligning sales and engineering teams to foster growth. This leadership change aims to strengthen LightPath's operational excellence, crucial for their global expansion strategy.
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